Retail sales in the euro area were more favorable than expected

Retail trade growth in the euro area increased more than expected in August, indicating that household consumption will continue to support economic growth.

The European Union Bureau of Statistics (Eurostat) announced on Thursday that seasonally adjusted retail sales increased by 2.1 percent year-on-year and 0.3 percent, compared to the previous month in the 19-member euro area. (MTI)